Biostar Pharmaceuticals (BSPM) has risen sharply, recording gains of 70.64% in the past 4 weeks. However, the stock has corrected -1.12% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 71.56% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 26.27% and the 50-Day Moving Average is 6.85%.The 200 Day SMA reached 35.57%
Biostar Pharmaceuticals (NASDAQ:BSPM): The stock opened in the green at $4.18 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $4.73 and a low of $3.34 for the day. The stock did not find buyers even at the lows and closed at $3.72 recording a loss of -9.27%. 1,825,105 shares exchanged hands during the trading day. The stock had closed at $3.72 in the previous days trading.
Biostar Pharmaceuticals, Inc. (Biostar) is a holding company. The Company through its wholly owned subsidiary, Shaanxi Biostar Biotech, Ltd. (Shaanxi Biostar) and its variable interest entities (VIEs) Shaanxi Aoxing Pharmaceutical Co., Ltd. (Aoxing Pharmaceutical) and Shaanxi Weinan Huaren Pharmaceuticals Ltd. (Shaanxi Weinan) develops, manufactures and markets pharmaceutical products for a variety of diseases and conditions in the Peoples Republic of China (PRC or China). The Company offers over-the-counter (OTC) products and prescription-based pharmaceuticals. The Company also offers Hernia Belt, a medical device used for the treatment of Hernia. The Companys products are derived from medicinal herbs that are either grown at its own facility or purchased from its suppliers. The Companys products are sold in around 28 provinces in the PRC through a network of around 63 distributors and 226 sales people.